Document summary
India’s ambitions for low-carbon growth are driven by the twin imperatives of achieving climate and energy security. 2011 marks the third anniversary of India’s climate plan which, through policy measures has made India one of the world’s most attractive clean energy markets. HSBC forecasts annual sales of renewable technology and electricity to grow to US$34bn by 2020 with total installations at 71GW. Solar will achieve wholesale grid parity by 2018-19, but energy efficiency stands as the largest market opportunity at US$77bn. Overall India’s market for low-carbon energy solutions will reach cUS$135bn in 2020 or 3.3% of GDP.